India’s automobile sector is showing renewed vigour after the recent GST rate rationalization, with signs of a sustained recovery in passenger vehicles (PVs) and some optimism in the two-wheeler segment. However, commercial vehicles (CVs) may still take time to catch up, according to Deepak Shenoy, Founder & CEO of Capitalmind. When asked about his outlook … Read more
In a conversation with ET Now, Poonam Upadhyay, Director, Crisil Ratings highlighted that the latest GST rate cuts are set to significantly benefit organized apparel retailers, particularly as the festive and wedding seasons drive spending to peak levels. “This report is largely focusing on the apparel retailers. The growth will differ across different sectors. But … Read more
Finance Minister Nirmala Sitharaman has said that GST rates will come down further, with the process of rationalising tax slabs nearing completion. Speaking at The Economic Times Awards, she stated that the Revenue Neutral Rate (RNR) had already dropped from 15.8% in 2017 to 11.4% in 2023 and hinted at further reductions. “It will come … Read more
Finance Minister Nirmala Sitharaman informed the Rajya Sabha on Tuesday that a reduction in goods and services tax (GST) can be expected. She stated that the GST Council is currently working on streamlining the rate slabs for Goods and Services Tax. Additionally, the finance minister highlighted that there has been a significant decrease in GST … Read more
There is a growing demand to reduce or eliminate the current 18% Goods and Services Tax (GST) rate on life and health insurance policies. The high GST rate on insurance premiums poses a significant obstacle, especially for individuals with limited incomes. The combination of high premiums and GST makes insurance products inaccessible to many. Ajit … Read more